Chevron Co. (NYSE:CVX) Announces Quarterly Dividend of $1.63

Chevron Co. (NYSE:CVX - Get Free Report) declared a quarterly dividend on Friday, April 26th, Zacks reports. Shareholders of record on Friday, May 17th will be given a dividend of 1.63 per share by the oil and gas company on Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 3.93%. The ex-dividend date is Thursday, May 16th.

Chevron has raised its dividend by an average of 5.4% annually over the last three years and has increased its dividend every year for the last 37 years. Chevron has a dividend payout ratio of 45.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Chevron to earn $15.66 per share next year, which means the company should continue to be able to cover its $6.52 annual dividend with an expected future payout ratio of 41.6%.

Chevron Price Performance

Shares of NYSE:CVX traded up $0.61 during midday trading on Friday, hitting $165.89. The company's stock had a trading volume of 9,736,350 shares, compared to its average volume of 7,082,480. The business's 50 day simple moving average is $156.58 and its 200 day simple moving average is $151.73. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The company has a market cap of $308.10 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12. Chevron has a 12-month low of $139.62 and a 12-month high of $171.70.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company's revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the firm posted $3.55 earnings per share. On average, analysts forecast that Chevron will post 13.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CVX shares. TD Cowen downgraded shares of Chevron from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Royal Bank of Canada raised their price objective on shares of Chevron from $185.00 to $190.00 and gave the stock an "outperform" rating in a research report on Monday, February 5th. DZ Bank cut shares of Chevron from a "buy" rating to a "hold" rating and set a $160.00 price objective for the company. in a research report on Tuesday, February 6th. Piper Sandler raised their price objective on shares of Chevron from $180.00 to $204.00 and gave the stock an "overweight" rating in a research report on Thursday, April 18th. Finally, Barclays assumed coverage on shares of Chevron in a research report on Wednesday, April 10th. They set an "overweight" rating and a $203.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Chevron has an average rating of "Moderate Buy" and an average price target of $184.75.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.18% of the company's stock.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.